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Jumbo Enterprises incurred advertising expense on account. The effect of this transaction on the basic accounting equation is: a. Decrease in asset and increase in
Jumbo Enterprises incurred advertising expense on account. The effect of this transaction on the basic accounting equation is:
a. Decrease in asset and increase in liabilities.
b. Increase in liabilities and decrease in equity.
c. Increase in assets and increase in equity.
d. Increase in liabilities and increase in equity.
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